1. Central Clinical School, Faculty of Medicine and Health, University of Sydney, NSW, Australia
  2. ARC Centre of Excellence for Children and Families over the Life Course, University of Queensland, QLD, Australia
  3. School of Economics, University of Technology, NSW, Australia
  4. Institute of Labor Economics (IZA), Bonn, Germany
  5. Brain and Mind Centre, University of Sydney, NSW, Australia

 

Corresponding author:
Professor Nick Glozier
Faculty of Medicine and Health,
University of Sydney,
NSW 2050,
Australia
email:

 

Draft: 08 February, 2021
Supplementary tables: 4
Supplementary figures: 3

keywords: Subjective wellbeing, household wealth, HILDA

 


Supplementary Material


Sample characteristics

The broad demographic characteristics of the sample at each fourth year wave are presented below in Table S1.

Table S1. Demographic characteristics of the sample

Characteristic

2002
N = 11,635
1

2006
N = 11,474
1

2010
N = 11,993
1

2014
N = 15,496
1

2018
N = 15,721
1

Life satisfaction

7.9 (±1.6)

7.9 (±1.5)

7.8 (±1.5)

7.9 (±1.5)

7.9 (±1.5)

Happiness

68.3 (±16.8)

68.3 (±16.7)

67.9 (±16.6)

67.6 (±17.1)

66.5 (±17.3)

Sex

Female

6,088 (52%)

6,069 (53%)

6,296 (52%)

8,100 (52%)

8,241 (52%)

Male

5,547 (48%)

5,405 (47%)

5,697 (48%)

7,396 (48%)

7,480 (48%)

Age (years)

46.4 (±16.6)

46.8 (±17.3)

46.9 (±17.7)

47.7 (±17.8)

48.2 (±18.2)

Education

High school or less

9,348 (80%)

8,943 (78%)

9,186 (77%)

11,408 (74%)

11,268 (72%)

Graduate

2,281 (20%)

2,526 (22%)

2,800 (23%)

4,077 (26%)

4,445 (28%)

Workforce

Employed

7,323 (63%)

7,568 (66%)

7,861 (66%)

9,916 (64%)

10,141 (65%)

Unemployed

389 (3.3%)

290 (2.5%)

384 (3.2%)

550 (3.5%)

500 (3.2%)

Not in labour force

3,923 (34%)

3,616 (32%)

3,748 (31%)

5,030 (32%)

5,080 (32%)

Relationship status

Single

1,847 (16%)

1,913 (17%)

2,063 (17%)

2,669 (17%)

2,782 (18%)

Married

7,956 (68%)

7,737 (67%)

8,106 (68%)

10,558 (68%)

10,630 (68%)

Divorced/Widow

1,832 (16%)

1,824 (16%)

1,824 (15%)

2,269 (15%)

2,309 (15%)

Chronic illness

2,735 (24%)

3,278 (29%)

3,467 (29%)

4,757 (31%)

4,849 (31%)

SEIFA

5.5 (±2.9)

5.6 (±2.8)

5.6 (±2.8)

5.5 (±2.8)

5.6 (±2.8)

Household size

2.8 (±1.4)

2.8 (±1.4)

2.8 (±1.4)

2.8 (±1.5)

2.8 (±1.4)

1Statistics presented: Mean (±SD); n (%)


Average life satisfaction levels were very steady between 2002-2018, while average happiness score decreased slightly over the 17 years. The proportions of each sex and relationship status were stable over time, as were the average household size and SEIFA index. However age and chronic health conditions tended to increase over time, indicating a slight increase in the age of the panel over time (1.8 years) but not that of a cohort study which would be 16 years. Education levels (i.e., graduate percentage) also tended to increase over time, while changes in the workforce varied with economic circumstances.



Model Selection

We compared the posterior evidence of a linear- over a nonlinear- relationship between each wellbeing variable and income (i.e., WAIClinear — WAICpiecewise). Thus a WAIC difference greater than zero indicated evidence for a linear relationship. A WAIC difference less than zero indicated evidence for a nonlinear (piecewise) relationship.


Figure S1. Linear model evidence (WAIClinear — WAICpiecewise)

Figure S1 legend: Differences in posterior evidence for a linear fit over a piecewise fit (WAIC) for happiness (red) and satisfaction (blue). The filled circle indicates the mean of the distribution and the horizontal bars represents the 95% credible interval. A difference greater than zero is support for the linear model and a difference below zero is support for the piecewise model.


The posterior evidence from model selection revealed the nonlinear (piecewise) fit of happiness, but not satisfaction, was credibly superior to a linear fit in each year. Figure S1 shows the 95% credible interval of the difference in WAIC values for the linear over nonlinear fits for happiness was below zero with no overlap for each year, indicating consistent support for the nonlinear model. By contrast, the WAIC differences for the satisfaction models were generally positive, indicating the superiority of the linear fit for this dependent variable. Overall the posterior evidence suggests that happiness and satisfaction have distinct relationships with household income; satisfaction tends to increase linearly with income, while a change point exists in the relationship between happiness and household income.



Model predictions (2002-2018)

The posterior estimates of the piecewise model indicated that the relationship between happiness and income changed over time between 2002 and 2018. One implication of such a change is the disparity in happiness between income groups has increased. This will occur as more people fall below the change point over time and so are subject to the steep region of the function where income and happiness are strongly related. To directly examine the implications of our model for such inequities in happiness, we used the model to estimate or predict the happiness of two different income levels: one income level which fell below the change points between 2002-2018 ($40K/yr); and another level which always remained above the change points over the same period ($75K/yr). Figure S2 below presents the happiness levels (in SD units/year) for each income level as well as the difference in happiness between them (∆).


Figure S2. Happiness (SD units) at $40K/yr and $75K/yr from 2002-2018

Figure S2 legend: The difference (∆) in happiness between a household income of $40K per year and a household income of $75K per year has increased between 2002 and 2018.


Figure S2 shows the disparity in happiness between two fixed income levels, $40K/year (below the change points) and $75K/year (above the change points). In 2002, a household income of $40K/year achieved a near average level of happiness relative to everyone else that year, however by 2018 happiness had declined to lower than average levels relative to the population. By contrast, a household income of $75K/year enjoyed a higher than average level of happiness for the entire period. The difference (∆) in happiness between these two income levels doubled over the period. The increasing disparity in happiness between the rich and the poor implies that happiness has became more inequitable over the period.




Figure S3. Residual plots for piecewise happiness models

Figure S3 legend: The joint distribution between residual and fitted values shows no common patterns across years and appears clustered around zero in each case.


Examination of the residual plots from the piecewise models of happiness confirms the residuals were evenly distributed around zero and there was little indication of heterscedascity. Overall, there was little evidence that the piecewise models of happiness were not appropriate for the data.



Complete parameter estimates and fit statistics

There were df = 59,876 total observations. 4000 samples (post-warmup) were drawn using sampling(NUTS). For each parameter, Bulk_ESS and Tail_ESS are effective sample size (ESS) measures, and Rhat is the potential scale reduction factor on split chains. In each case the Rhat apprached 1, indicating convergance. The smallest ESS was n = 472, which is greater than a conservative estimate of the sufficient n for estimation (n > 300).

The Bayes R2 = 0.04 ±0.001 (95%CI 0.037 — 0.043)


Coefficient definitions:

alpha is the log value of wealth (x) at the changepoint
b0 is the intercept denoting the expected value of wellbeing (y) at the changepoint
b1 is the linear slope before the changepoint
b2 is the linear slope after the changepoint
b3 is the coefficient of education (graduate)
b4 is the coefficient of age
b5 is the coefficient of age2
b6 is the coefficient of sex (male)


Table S1. Piecewise parameter estimates for happiness

Parameter

Year

Estimate

Est.Error

l-95% CI

u-95% CI

Rhat

Bulk_ESS

Tail_ESS

alpha

2018

-2.552

0.075

-2.718

-2.415

1.0

5472

4824

2017

-2.656

0.079

-2.816

-2.522

1.0

4303

7063

2016

-2.731

0.074

-2.860

-2.584

1.0

6384

8892

2015

-2.665

0.130

-2.921

-2.448

1.0

2834

6203

2014

-2.866

0.115

-3.041

-2.570

1.0

4085

2740

2013

-2.702

0.083

-2.866

-2.545

1.0

6171

7550

2012

-2.753

0.066

-2.873

-2.609

1.0

6740

6462

2011

-2.943

0.065

-3.072

-2.824

1.0

7073

7835

2010

-3.008

0.133

-3.247

-2.697

1.0

4151

3470

2009

-2.674

0.127

-2.938

-2.450

1.0

3873

4590

2008

-2.782

0.266

-3.041

-2.238

1.0

219

1146

2007

-2.997

0.059

-3.110

-2.876

1.0

5871

6139

2006

-2.956

0.094

-3.118

-2.753

1.0

5444

6112

2005

-2.840

0.093

-3.000

-2.641

1.0

4800

5441

2004

-2.877

0.131

-3.110

-2.562

1.0

4662

4143

2003

-2.487

0.146

-2.890

-2.250

1.0

4154

2080

2002

-3.057

0.107

-3.226

-2.785

1.0

5454

3289

b0

2018

0.053

0.030

-0.008

0.112

1.0

5543

6064

2017

0.027

0.029

-0.030

0.081

1.0

4590

8059

2016

-0.006

0.026

-0.056

0.046

1.0

6825

8114

2015

0.023

0.042

-0.058

0.099

1.0

2840

6338

2014

-0.032

0.033

-0.086

0.045

1.0

4131

3059

2013

-0.021

0.028

-0.075

0.033

1.0

6824

7844

2012

-0.014

0.026

-0.063

0.040

1.0

7029

7528

2011

-0.045

0.025

-0.093

0.004

1.0

7107

7751

2010

-0.068

0.034

-0.130

0.006

1.0

4298

4104

2009

0.011

0.043

-0.071

0.096

1.0

4157

6108

2008

0.026

0.084

-0.068

0.212

1.0

236

1276

2007

0.004

0.024

-0.042

0.051

1.0

6508

7207

2006

0.001

0.033

-0.059

0.069

1.0

5604

6302

2005

0.036

0.035

-0.026

0.112

1.0

5091

5838

2004

0.019

0.047

-0.059

0.130

1.0

4828

4394

2003

0.171

0.061

0.025

0.282

1.0

4225

2312

2002

-0.003

0.030

-0.057

0.063

1.0

5438

4220

b1

2018

0.087

0.008

0.074

0.104

1.0

7858

5682

2017

0.099

0.010

0.082

0.120

1.0

5024

7076

2016

0.100

0.010

0.082

0.119

1.0

7907

8694

2015

0.095

0.014

0.074

0.126

1.0

3187

6110

2014

0.110

0.016

0.079

0.141

1.0

4580

3570

2013

0.091

0.010

0.073

0.111

1.0

7719

8334

2012

0.104

0.010

0.085

0.123

1.0

8166

7897

2011

0.136

0.013

0.111

0.163

1.0

8426

8048

2010

0.125

0.022

0.083

0.175

1.0

4707

4598

2009

0.095

0.013

0.074

0.124

1.0

4542

5573

2008

0.112

0.025

0.067

0.150

1.0

232

992

2007

0.145

0.015

0.117

0.175

1.0

7079

7785

2006

0.127

0.016

0.098

0.159

1.0

7184

7679

2005

0.115

0.013

0.091

0.141

1.0

6325

7057

2004

0.112

0.015

0.084

0.141

1.0

5623

6230

2003

0.079

0.009

0.066

0.100

1.0

5136

2616

2002

0.112

0.016

0.079

0.143

1.0

6085

4885

b2

2018

0.010

0.003

0.004

0.017

1.0

10196

8753

2017

0.008

0.003

0.003

0.013

1.0

9390

9529

2016

0.011

0.003

0.005

0.016

1.0

12250

10342

2015

0.012

0.004

0.004

0.020

1.0

4064

7318

2014

0.016

0.003

0.009

0.022

1.0

6872

5256

2013

0.010

0.003

0.004

0.016

1.0

11528

9635

2012

0.014

0.003

0.007

0.020

1.0

11725

9370

2011

0.016

0.003

0.010

0.022

1.0

11718

9541

2010

0.016

0.003

0.009

0.022

1.0

7483

7315

2009

0.012

0.004

0.003

0.020

1.0

6532

8426

2008

0.013

0.006

-0.001

0.021

1.0

215

1065

2007

0.009

0.003

0.003

0.014

1.0

13676

9974

2006

0.020

0.004

0.012

0.028

1.0

9227

8810

2005

0.014

0.005

0.004

0.023

1.0

8652

7631

2004

0.022

0.006

0.011

0.033

1.0

6852

6478

2003

0.011

0.007

-0.003

0.027

1.0

5406

3546

2002

0.013

0.005

0.004

0.022

1.0

9130

6416

b3

2018

0.074

0.019

0.037

0.111

1.0

11204

8453

2017

0.072

0.019

0.035

0.109

1.0

11049

9233

2016

0.074

0.019

0.037

0.111

1.0

12188

9126

2015

0.064

0.020

0.025

0.103

1.0

9486

8202

2014

0.049

0.020

0.010

0.089

1.0

11251

8389

2013

0.076

0.020

0.037

0.115

1.0

12362

8848

2012

0.061

0.021

0.021

0.101

1.0

10996

8265

2011

0.064

0.021

0.024

0.105

1.0

12069

8070

2010

0.052

0.024

0.006

0.098

1.0

10971

8286

2009

0.041

0.024

-0.007

0.088

1.0

10339

8838

2008

0.025

0.027

-0.027

0.077

1.0

1392

3913

2007

0.038

0.025

-0.012

0.085

1.0

11273

8480

2006

0.051

0.024

0.004

0.098

1.0

12284

8855

2005

0.068

0.025

0.019

0.116

1.0

11291

9193

2004

0.042

0.025

-0.005

0.092

1.0

10005

9062

2003

0.001

0.025

-0.048

0.049

1.0

10346

7768

2002

0.056

0.025

0.008

0.105

1.0

7902

6784

b4

2018

0.162

0.016

0.130

0.194

1.0

12231

8891

2017

0.159

0.016

0.128

0.191

1.0

12208

8685

2016

0.165

0.016

0.132

0.197

1.0

12478

7904

2015

0.160

0.017

0.127

0.192

1.0

10573

8426

2014

0.130

0.017

0.098

0.163

1.0

10748

8904

2013

0.160

0.017

0.126

0.194

1.0

12993

7821

2012

0.167

0.017

0.134

0.200

1.0

11112

8556

2011

0.136

0.017

0.103

0.167

1.0

12033

8945

2010

0.180

0.019

0.143

0.217

1.0

9835

8565

2009

0.173

0.019

0.135

0.211

1.0

10287

9023

2008

0.146

0.020

0.107

0.186

1.0

8738

8148

2007

0.152

0.019

0.113

0.190

1.0

10375

8168

2006

0.137

0.019

0.099

0.175

1.0

12977

8755

2005

0.138

0.019

0.100

0.176

1.0

11787

8765

2004

0.161

0.019

0.123

0.199

1.0

9932

8377

2003

0.139

0.020

0.100

0.178

1.0

11440

8457

2002

0.146

0.019

0.109

0.183

1.0

7931

7351

b5

2018

0.132

0.009

0.115

0.149

1.0

13278

9562

2017

0.128

0.009

0.110

0.144

1.0

12532

8450

2016

0.110

0.009

0.093

0.127

1.0

13529

8672

2015

0.098

0.009

0.080

0.115

1.0

10882

8875

2014

0.076

0.009

0.058

0.094

1.0

11956

8815

2013

0.074

0.009

0.055

0.092

1.0

12404

8055

2012

0.070

0.009

0.052

0.088

1.0

11601

8303

2011

0.072

0.009

0.054

0.091

1.0

13429

8574

2010

0.046

0.010

0.026

0.066

1.0

12143

8694

2009

0.072

0.011

0.051

0.093

1.0

10417

8448

2008

0.066

0.011

0.043

0.087

1.0

3095

6799

2007

0.075

0.011

0.055

0.096

1.0

11270

9261

2006

0.075

0.011

0.055

0.096

1.0

13602

8766

2005

0.080

0.011

0.059

0.100

1.0

12221

8564

2004

0.083

0.011

0.061

0.104

1.0

10224

8561

2003

0.055

0.011

0.033

0.076

1.0

10487

8698

2002

0.061

0.011

0.040

0.082

1.0

7262

7480

b6

2018

0.015

0.008

-0.001

0.031

1.0

12933

8532

2017

0.030

0.008

0.014

0.046

1.0

12266

8540

2016

0.026

0.008

0.010

0.042

1.0

13099

9006

2015

0.017

0.008

0.001

0.034

1.0

10727

8637

2014

0.033

0.008

0.017

0.049

1.0

12856

8975

2013

0.042

0.009

0.025

0.059

1.0

12639

8558

2012

0.030

0.009

0.014

0.047

1.0

11774

8472

2011

0.044

0.008

0.027

0.060

1.0

12339

8858

2010

0.025

0.009

0.006

0.043

1.0

11767

8632

2009

0.031

0.010

0.012

0.050

1.0

9995

8638

2008

0.027

0.010

0.008

0.046

1.0

6431

8533

2007

0.017

0.009

-0.002

0.035

1.0

10701

8874

2006

0.014

0.009

-0.004

0.033

1.0

12686

8409

2005

0.022

0.009

0.004

0.040

1.0

11749

8742

2004

0.021

0.010

0.002

0.039

1.0

10169

8626

2003

0.014

0.009

-0.004

0.033

1.0

10804

9196

2002

0.004

0.009

-0.014

0.022

1.0

7485

8638

b7

2018

-0.013

0.009

-0.032

0.005

1.0

14279

8426

2017

-0.009

0.009

-0.028

0.009

1.0

13779

8245

2016

-0.001

0.009

-0.018

0.016

1.0

14702

8782

2015

-0.002

0.009

-0.020

0.017

1.0

11501

8795

2014

0.002

0.010

-0.018

0.022

1.0

12714

8434

2013

0.016

0.010

-0.003

0.035

1.0

14291

9040

2012

0.019

0.010

-0.001

0.039

1.0

11738

8830

2011

0.011

0.009

-0.007

0.030

1.0

13366

8342

2010

-0.017

0.011

-0.039

0.004

1.0

12658

8195

2009

-0.030

0.012

-0.052

-0.007

1.0

12408

8936

2008

-0.023

0.012

-0.047

0.001

1.0

9680

8078

2007

-0.024

0.011

-0.046

-0.001

1.0

12640

8804

2006

-0.031

0.012

-0.054

-0.008

1.0

14266

8299

2005

-0.045

0.012

-0.070

-0.021

1.0

12913

8511

2004

-0.032

0.013

-0.057

-0.008

1.0

11245

8975

2003

-0.028

0.013

-0.053

-0.004

1.0

11529

8548

2002

-0.058

0.012

-0.082

-0.034

1.0

9952

8211

sigma

2018

0.974

0.006

0.963

0.986

1.0

15655

7673

2017

0.976

0.006

0.964

0.987

1.0

15506

8441

2016

0.979

0.006

0.968

0.990

1.0

16132

9200

2015

0.979

0.006

0.968

0.991

1.0

13711

8663

2014

0.983

0.006

0.971

0.994

1.0

16124

8688

2013

0.982

0.006

0.970

0.994

1.0

15219

8271

2012

0.979

0.006

0.968

0.991

1.0

13360

9337

2011

0.980

0.006

0.969

0.992

1.0

14503

9353

2010

0.983

0.007

0.970

0.997

1.0

15065

8299

2009

0.981

0.007

0.967

0.994

1.0

13659

8781

2008

0.982

0.007

0.969

0.996

1.0

10357

8886

2007

0.982

0.007

0.969

0.995

1.0

14836

9236

2006

0.981

0.007

0.968

0.994

1.0

15746

8408

2005

0.980

0.007

0.967

0.993

1.0

14754

8100

2004

0.980

0.007

0.967

0.994

1.0

12247

8967

2003

0.984

0.007

0.971

0.998

1.0

12670

8064

2002

0.987

0.007

0.973

1.000

1.0

7527

6712


Table S2. Linear parameter estimates for happiness

Parameter

Year

Estimate

Est.Error

l-95% CI

u-95% CI

Rhat

Bulk_ESS

Tail_ESS

Intercept

2018

-0.316

0.019

-0.353

-0.277

1.0

14006

10228

2017

-0.291

0.019

-0.329

-0.253

1.0

13073

10321

2016

-0.306

0.019

-0.344

-0.268

1.0

14068

10370

2015

-0.313

0.020

-0.353

-0.274

1.0

13763

10488

2014

-0.297

0.020

-0.335

-0.258

1.0

14018

10053

2013

-0.312

0.020

-0.351

-0.272

1.0

15651

10085

2012

-0.334

0.020

-0.374

-0.294

1.0

15044

9419

2011

-0.329

0.020

-0.368

-0.288

1.0

15264

10032

2010

-0.293

0.023

-0.338

-0.250

1.0

15413

10151

2009

-0.322

0.023

-0.368

-0.276

1.0

15612

10143

2008

-0.286

0.023

-0.332

-0.242

1.0

14927

10486

2007

-0.234

0.022

-0.278

-0.192

1.0

14104

10340

2006

-0.300

0.023

-0.344

-0.255

1.0

14512

9458

2005

-0.304

0.023

-0.350

-0.258

1.0

18269

9269

2004

-0.337

0.023

-0.383

-0.291

1.0

16123

9961

2003

-0.300

0.023

-0.345

-0.255

1.0

14964

10083

2002

-0.237

0.022

-0.280

-0.193

1.0

15569

9592

dollars

2018

0.033

0.002

0.029

0.037

1.0

19127

9998

2017

0.027

0.002

0.024

0.031

1.0

18387

10060

2016

0.030

0.002

0.026

0.034

1.0

19864

10204

2015

0.034

0.002

0.029

0.038

1.0

20147

10087

2014

0.031

0.002

0.027

0.035

1.0

20813

9558

2013

0.029

0.002

0.025

0.033

1.0

20564

9776

2012

0.035

0.002

0.031

0.040

1.0

19263

9816

2011

0.035

0.002

0.030

0.039

1.0

18440

9290

2010

0.030

0.002

0.025

0.034

1.0

19683

10210

2009

0.034

0.003

0.029

0.039

1.0

19411

10133

2008

0.032

0.002

0.027

0.037

1.0

19275

10239

2007

0.025

0.002

0.021

0.030

1.0

20606

9870

2006

0.040

0.003

0.034

0.045

1.0

20396

10117

2005

0.040

0.003

0.034

0.046

1.0

22024

9664

2004

0.048

0.003

0.041

0.054

1.0

19019

9389

2003

0.046

0.003

0.039

0.052

1.0

17897

9692

2002

0.033

0.003

0.027

0.039

1.0

19647

9792

grad

2018

0.103

0.019

0.066

0.140

1.0

11657

8807

2017

0.108

0.019

0.071

0.145

1.0

10077

8584

2016

0.098

0.019

0.061

0.136

1.0

9644

8660

2015

0.086

0.020

0.048

0.124

1.0

11031

8890

2014

0.068

0.020

0.029

0.105

1.0

11203

8900

2013

0.097

0.020

0.058

0.136

1.0

12095

8973

2012

0.078

0.020

0.039

0.118

1.0

10996

9294

2011

0.079

0.020

0.039

0.119

1.0

12104

8737

2010

0.064

0.023

0.018

0.110

1.0

12782

8831

2009

0.064

0.024

0.017

0.111

1.0

12111

8978

2008

0.054

0.025

0.006

0.103

1.0

12808

8695

2007

0.067

0.024

0.020

0.114

1.0

10230

8570

2006

0.071

0.024

0.024

0.118

1.0

11556

9107

2005

0.096

0.025

0.047

0.145

1.0

15613

9054

2004

0.060

0.025

0.011

0.108

1.0

10952

9517

2003

0.027

0.025

-0.022

0.076

1.0

11297

9208

2002

0.069

0.025

0.021

0.118

1.0

12773

8684

age

2018

0.115

0.009

0.098

0.132

1.0

11227

9635

2017

0.106

0.009

0.090

0.123

1.0

11325

8997

2016

0.091

0.009

0.075

0.108

1.0

12091

8374

2015

0.082

0.009

0.064

0.099

1.0

10567

8693

2014

0.058

0.009

0.040

0.076

1.0

10989

8467

2013

0.056

0.009

0.038

0.074

1.0

12008

9546

2012

0.049

0.009

0.032

0.067

1.0

11331

9625

2011

0.050

0.009

0.032

0.068

1.0

13077

9763

2010

0.027

0.010

0.006

0.047

1.0

10760

8808

2009

0.047

0.011

0.026

0.068

1.0

10922

8987

2008

0.041

0.011

0.021

0.062

1.0

12210

9086

2007

0.048

0.011

0.028

0.068

1.0

12197

10017

2006

0.054

0.010

0.033

0.074

1.0

11566

9238

2005

0.059

0.011

0.038

0.080

1.0

14325

9516

2004

0.066

0.011

0.045

0.087

1.0

11391

9310

2003

0.043

0.011

0.022

0.064

1.0

12258

9349

2002

0.045

0.011

0.024

0.066

1.0

11233

8473

age_sq

2018

-0.001

0.008

-0.017

0.015

1.0

11109

8882

2017

0.010

0.008

-0.006

0.026

1.0

10722

8526

2016

0.010

0.008

-0.006

0.026

1.0

10926

8888

2015

0.002

0.008

-0.014

0.018

1.0

10702

8938

2014

0.018

0.008

0.002

0.034

1.0

10944

8950

2013

0.026

0.008

0.009

0.042

1.0

11501

9677

2012

0.014

0.008

-0.003

0.030

1.0

11191

8770

2011

0.025

0.008

0.009

0.041

1.0

12111

9170

2010

0.011

0.009

-0.007

0.029

1.0

11752

9509

2009

0.016

0.009

-0.003

0.034

1.0

11600

9348

2008

0.012

0.010

-0.008

0.030

1.0

11560

9064

2007

-0.002

0.010

-0.021

0.017

1.0

10630

8049

2006

-0.000

0.009

-0.018

0.018

1.0

11386

8843

2005

0.008

0.009

-0.010

0.026

1.0

14429

8527

2004

0.009

0.009

-0.009

0.028

1.0

11468

9210

2003

0.007

0.009

-0.011

0.025

1.0

11813

8675

2002

-0.009

0.009

-0.026

0.010

1.0

11330

9643

male

2018

0.171

0.016

0.138

0.203

1.0

12081

8698

2017

0.170

0.016

0.138

0.202

1.0

11135

7889

2016

0.174

0.016

0.142

0.207

1.0

11233

8879

2015

0.167

0.017

0.134

0.200

1.0

11220

8949

2014

0.138

0.017

0.104

0.170

1.0

10685

9161

2013

0.169

0.017

0.136

0.202

1.0

11261

8336

2012

0.177

0.017

0.143

0.209

1.0

9968

8683

2011

0.148

0.017

0.115

0.181

1.0

10976

8591

2010

0.188

0.019

0.151

0.225

1.0

13088

9238

2009

0.183

0.020

0.145

0.221

1.0

11448

8924

2008

0.155

0.020

0.116

0.194

1.0

12673

9016

2007

0.164

0.020

0.125

0.202

1.0

10811

8779

2006

0.146

0.019

0.108

0.184

1.0

12257

8727

2005

0.145

0.019

0.108

0.183

1.0

16872

9600

2004

0.168

0.019

0.130

0.206

1.0

12085

9283

2003

0.144

0.019

0.107

0.182

1.0

13152

9230

2002

0.153

0.019

0.116

0.191

1.0

13412

9750

sigma

2018

0.979

0.006

0.968

0.991

1.0

14442

9369

2017

0.982

0.006

0.971

0.993

1.0

13014

8298

2016

0.983

0.006

0.972

0.995

1.0

14319

8855

2015

0.984

0.006

0.972

0.995

1.0

15810

8843

2014

0.987

0.006

0.975

0.999

1.0

12493

8776

2013

0.986

0.006

0.974

0.998

1.0

12853

9242

2012

0.984

0.006

0.972

0.996

1.0

14535

9003

2011

0.985

0.006

0.974

0.997

1.0

14082

9203

2010

0.987

0.007

0.974

1.001

1.0

15396

8926

2009

0.985

0.007

0.972

0.999

1.0

15378

9419

2008

0.987

0.007

0.973

1.001

1.0

14429

8890

2007

0.989

0.007

0.976

1.003

1.0

13405

9885

2006

0.985

0.007

0.972

0.998

1.0

13470

9216

2005

0.986

0.007

0.972

1.000

1.0

18106

9150

2004

0.983

0.007

0.970

0.997

1.0

13797

8844

2003

0.987

0.007

0.974

1.000

1.0

15662

8452

2002

0.990

0.007

0.977

1.004

1.0

15600

9265


Table S3. Piecewise parameter estimates for satisfaction

Parameter

Year

Estimate

Est.Error

l-95% CI

u-95% CI

Rhat

Bulk_ESS

Tail_ESS

alpha

2018

-3.009

0.087

-3.159

-2.825

1.0

5796

6401

2017

-2.591

0.128

-2.835

-2.371

1.0

3522

7302

2016

-2.848

0.120

-3.052

-2.557

1.0

2882

2724

2015

-2.543

0.148

-3.034

-2.355

1.0

2345

752

2014

-2.419

0.073

-2.587

-2.287

1.0

6196

3543

2013

-2.809

0.077

-2.946

-2.647

1.0

5706

6100

2012

-2.744

0.060

-2.854

-2.617

1.0

6608

5786

2011

-3.052

0.110

-3.245

-2.839

1.0

3674

8091

2010

-2.097

0.165

-2.471

-1.816

1.0

5211

4410

2009

-2.933

0.206

-3.259

-2.539

1.0

2544

6140

2008

-2.291

0.217

-2.743

-1.826

1.0

3370

2947

2007

-2.762

0.172

-3.062

-2.325

1.0

3736

2942

2006

0.150

2.619

-3.305

5.689

1.5

7

122

2005

-2.225

0.324

-2.795

-1.513

1.0

2470

2825

2004

-3.107

0.378

-3.564

-2.223

1.0

1913

3248

2003

-2.646

0.190

-2.983

-2.256

1.0

4233

5396

2002

-3.038

0.295

-3.530

-2.380

1.0

3088

3259

b0

2018

-0.068

0.025

-0.114

-0.018

1.0

6309

7242

2017

0.056

0.038

-0.015

0.128

1.0

3505

6850

2016

-0.036

0.032

-0.092

0.038

1.0

2962

2360

2015

0.031

0.042

-0.087

0.096

1.0

2239

795

2014

0.094

0.028

0.035

0.148

1.0

5861

4248

2013

-0.014

0.024

-0.059

0.035

1.0

6436

6114

2012

-0.016

0.022

-0.059

0.030

1.0

6943

6921

2011

-0.058

0.028

-0.109

-0.002

1.0

3975

6762

2010

0.129

0.056

0.015

0.237

1.0

5496

5272

2009

-0.031

0.043

-0.101

0.059

1.0

2400

6255

2008

0.122

0.068

0.001

0.271

1.0

3384

2988

2007

0.074

0.041

0.007

0.177

1.0

3712

3056

2006

1.126

0.944

-0.073

2.599

1.5

7

91

2005

0.217

0.125

0.040

0.521

1.0

2533

2776

2004

0.033

0.084

-0.065

0.249

1.0

1917

3027

2003

0.134

0.057

0.039

0.258

1.0

4440

5418

2002

0.027

0.060

-0.067

0.170

1.0

3120

3468

b1

2018

0.115

0.015

0.087

0.145

1.0

6905

8168

2017

0.077

0.010

0.061

0.100

1.0

4224

6443

2016

0.098

0.014

0.070

0.128

1.0

3495

3178

2015

0.070

0.012

0.056

0.106

1.0

2591

811

2014

0.064

0.005

0.055

0.075

1.0

8802

6392

2013

0.088

0.009

0.070

0.107

1.0

7204

7706

2012

0.087

0.008

0.072

0.102

1.0

8564

7777

2011

0.124

0.018

0.092

0.162

1.0

4164

7290

2010

0.043

0.005

0.034

0.054

1.0

7594

6355

2009

0.089

0.020

0.058

0.128

1.0

2771

7262

2008

0.050

0.007

0.038

0.067

1.0

4919

4199

2007

0.077

0.014

0.051

0.105

1.0

4578

4413

2006

0.033

0.023

0.021

0.074

1.3

9

101

2005

0.050

0.007

0.038

0.065

1.0

4076

4885

2004

0.099

0.034

0.049

0.167

1.0

2046

4384

2003

0.067

0.010

0.050

0.088

1.0

5513

6127

2002

0.086

0.026

0.049

0.149

1.0

3470

5376

b2

2018

0.018

0.003

0.013

0.023

1.0

11457

9423

2017

0.009

0.003

0.003

0.015

1.0

6091

7618

2016

0.014

0.003

0.007

0.019

1.0

5105

4907

2015

0.012

0.004

0.005

0.021

1.0

2956

1315

2014

0.010

0.003

0.004

0.016

1.0

9955

7475

2013

0.015

0.003

0.009

0.020

1.0

10976

8677

2012

0.012

0.003

0.006

0.018

1.0

13160

9581

2011

0.017

0.003

0.011

0.022

1.0

7133

8981

2010

0.002

0.005

-0.008

0.012

1.0

7857

7330

2009

0.014

0.004

0.006

0.021

1.0

4111

7159

2008

0.007

0.005

-0.003

0.016

1.0

5080

4397

2007

0.008

0.003

0.001

0.014

1.0

5986

6240

2006

0.005

2.257

-5.187

5.088

1.4

1698

406

2005

0.009

0.009

-0.009

0.023

1.0

3654

3400

2004

0.022

0.007

0.005

0.032

1.0

2627

3807

2003

0.012

0.007

-0.003

0.024

1.0

6270

6729

2002

0.018

0.006

0.005

0.028

1.0

4458

4674

b3

2018

0.009

0.018

-0.027

0.045

1.0

10675

8368

2017

-0.012

0.019

-0.049

0.025

1.0

7633

7876

2016

0.008

0.018

-0.028

0.044

1.0

8625

7399

2015

-0.009

0.019

-0.046

0.029

1.0

8874

8246

2014

-0.017

0.019

-0.054

0.019

1.0

10781

8711

2013

-0.037

0.019

-0.073

0.000

1.0

10542

8903

2012

-0.009

0.019

-0.047

0.029

1.0

9819

8157

2011

-0.011

0.019

-0.049

0.026

1.0

10814

8505

2010

-0.021

0.023

-0.065

0.024

1.0

9141

8602

2009

-0.013

0.023

-0.057

0.032

1.0

7964

8206

2008

-0.043

0.023

-0.089

0.003

1.0

10047

8705

2007

-0.078

0.024

-0.125

-0.031

1.0

8492

8387

2006

-0.036

0.024

-0.083

0.011

1.0

145

5732

2005

-0.083

0.024

-0.130

-0.036

1.0

8653

7735

2004

-0.082

0.024

-0.130

-0.033

1.0

6691

7545

2003

-0.109

0.024

-0.158

-0.062

1.0

10328

8628

2002

-0.085

0.025

-0.132

-0.037

1.0

9829

7970

b4

2018

0.070

0.008

0.053

0.086

1.0

11685

8285

2017

0.061

0.008

0.044

0.077

1.0

9594

8649

2016

0.070

0.008

0.053

0.086

1.0

9173

9239

2015

0.055

0.008

0.038

0.071

1.0

10474

8393

2014

0.066

0.008

0.050

0.083

1.0

12341

8631

2013

0.077

0.008

0.060

0.094

1.0

9937

8223

2012

0.065

0.008

0.048

0.081

1.0

10424

8336

2011

0.060

0.009

0.043

0.077

1.0

10762

8558

2010

0.051

0.010

0.033

0.070

1.0

10826

7560

2009

0.086

0.010

0.067

0.106

1.0

10700

8548

2008

0.087

0.010

0.068

0.106

1.0

10667

9292

2007

0.106

0.010

0.087

0.126

1.0

9486

7714

2006

0.109

0.010

0.090

0.130

1.0

100

5090

2005

0.121

0.010

0.102

0.141

1.0

9190

8563

2004

0.128

0.010

0.108

0.148

1.0

9179

8503

2003

0.123

0.010

0.103

0.143

1.0

10191

8337

2002

0.129

0.010

0.109

0.149

1.0

10190

8747

b5

2018

0.134

0.008

0.119

0.150

1.0

11021

8946

2017

0.118

0.008

0.103

0.133

1.0

8717

8302

2016

0.130

0.008

0.114

0.145

1.0

9345

8519

2015

0.131

0.008

0.116

0.146

1.0

11314

8777

2014

0.129

0.008

0.115

0.144

1.0

12129

8086

2013

0.130

0.008

0.115

0.145

1.0

11579

8894

2012

0.141

0.008

0.126

0.156

1.0

10954

8394

2011

0.135

0.008

0.120

0.150

1.0

9739

8752

2010

0.123

0.009

0.107

0.140

1.0

10126

8895

2009

0.111

0.009

0.094

0.128

1.0

9536

8098

2008

0.109

0.009

0.092

0.126

1.0

10640

8690

2007

0.081

0.009

0.064

0.099

1.0

9577

8634

2006

0.084

0.009

0.067

0.101

1.0

216

6141

2005

0.092

0.009

0.076

0.110

1.0

9211

8415

2004

0.081

0.009

0.064

0.098

1.0

8662

7884

2003

0.091

0.009

0.075

0.108

1.0

10073

8832

2002

0.081

0.008

0.065

0.098

1.0

10453

9043

b6

2018

-0.063

0.016

-0.094

-0.032

1.0

10751

8041

2017

-0.059

0.016

-0.089

-0.027

1.0

8916

8293

2016

-0.035

0.016

-0.066

-0.004

1.0

8853

8230

2015

-0.039

0.016

-0.070

-0.008

1.0

9617

7984

2014

-0.099

0.016

-0.129

-0.067

1.0

11675

8109

2013

-0.061

0.016

-0.093

-0.030

1.0

10075

8441

2012

-0.045

0.016

-0.077

-0.013

1.0

9777

8853

2011

-0.069

0.016

-0.100

-0.038

1.0

11111

8662

2010

-0.044

0.018

-0.079

-0.009

1.0

9624

7946

2009

-0.054

0.018

-0.089

-0.018

1.0

9452

8027

2008

-0.061

0.019

-0.098

-0.025

1.0

10248

7732

2007

-0.071

0.019

-0.108

-0.034

1.0

9126

8451

2006

-0.066

0.018

-0.103

-0.030

1.0

6185

6126

2005

-0.094

0.019

-0.130

-0.057

1.0

9648

8018

2004

-0.106

0.019

-0.142

-0.070

1.0

8243

7566

2003

-0.104

0.018

-0.140

-0.068

1.0

10116

7952

2002

-0.061

0.018

-0.097

-0.025

1.0

10694

7985

sigma

2018

0.981

0.005

0.970

0.991

1.0

14252

8298

2017

0.984

0.006

0.973

0.995

1.0

10967

8445

2016

0.982

0.006

0.971

0.993

1.0

13353

9321

2015

0.983

0.006

0.972

0.993

1.0

13255

8527

2014

0.980

0.005

0.970

0.991

1.0

14400

8809

2013

0.981

0.006

0.970

0.992

1.0

13524

8950

2012

0.981

0.006

0.970

0.992

1.0

13467

8290

2011

0.981

0.006

0.971

0.992

1.0

13995

8536

2010

0.986

0.006

0.973

0.998

1.0

10911

8138

2009

0.984

0.006

0.972

0.997

1.0

12041

7619

2008

0.984

0.007

0.971

0.997

1.0

12117

8265

2007

0.985

0.007

0.973

0.998

1.0

11081

8287

2006

0.985

0.006

0.972

0.998

1.0

8021

7397

2005

0.981

0.006

0.968

0.994

1.0

10740

8300

2004

0.981

0.007

0.968

0.994

1.0

10144

8388

2003

0.980

0.006

0.967

0.993

1.0

12774

8366

2002

0.982

0.006

0.970

0.995

1.0

11710

8077


Table S4. Linear parameter estimates for happiness

Parameter

Year

Estimate

Est.Error

l-95% CI

u-95% CI

Rhat

Bulk_ESS

Tail_ESS

Intercept

2018

-0.316

0.019

-0.353

-0.277

1.0

14006

10228

2017

-0.291

0.019

-0.329

-0.253

1.0

13073

10321

2016

-0.306

0.019

-0.344

-0.268

1.0

14068

10370

2015

-0.313

0.020

-0.353

-0.274

1.0

13763

10488

2014

-0.297

0.020

-0.335

-0.258

1.0

14018

10053

2013

-0.312

0.020

-0.351

-0.272

1.0

15651

10085

2012

-0.334

0.020

-0.374

-0.294

1.0

15044

9419

2011

-0.329

0.020

-0.368

-0.288

1.0

15264

10032

2010

-0.293

0.023

-0.338

-0.250

1.0

15413

10151

2009

-0.322

0.023

-0.368

-0.276

1.0

15612

10143

2008

-0.286

0.023

-0.332

-0.242

1.0

14927

10486

2007

-0.234

0.022

-0.278

-0.192

1.0

14104

10340

2006

-0.300

0.023

-0.344

-0.255

1.0

14512

9458

2005

-0.304

0.023

-0.350

-0.258

1.0

18269

9269

2004

-0.337

0.023

-0.383

-0.291

1.0

16123

9961

2003

-0.300

0.023

-0.345

-0.255

1.0

14964

10083

2002

-0.237

0.022

-0.280

-0.193

1.0

15569

9592

dollars

2018

0.033

0.002

0.029

0.037

1.0

19127

9998

2017

0.027

0.002

0.024

0.031

1.0

18387

10060

2016

0.030

0.002

0.026

0.034

1.0

19864

10204

2015

0.034

0.002

0.029

0.038

1.0

20147

10087

2014

0.031

0.002

0.027

0.035

1.0

20813

9558

2013

0.029

0.002

0.025

0.033

1.0

20564

9776

2012

0.035

0.002

0.031

0.040

1.0

19263

9816

2011

0.035

0.002

0.030

0.039

1.0

18440

9290

2010

0.030

0.002

0.025

0.034

1.0

19683

10210

2009

0.034

0.003

0.029

0.039

1.0

19411

10133

2008

0.032

0.002

0.027

0.037

1.0

19275

10239

2007

0.025

0.002

0.021

0.030

1.0

20606

9870

2006

0.040

0.003

0.034

0.045

1.0

20396

10117

2005

0.040

0.003

0.034

0.046

1.0

22024

9664

2004

0.048

0.003

0.041

0.054

1.0

19019

9389

2003

0.046

0.003

0.039

0.052

1.0

17897

9692

2002

0.033

0.003

0.027

0.039

1.0

19647

9792

grad

2018

0.103

0.019

0.066

0.140

1.0

11657

8807

2017

0.108

0.019

0.071

0.145

1.0

10077

8584

2016

0.098

0.019

0.061

0.136

1.0

9644

8660

2015

0.086

0.020

0.048

0.124

1.0

11031

8890

2014

0.068

0.020

0.029

0.105

1.0

11203

8900

2013

0.097

0.020

0.058

0.136

1.0

12095

8973

2012

0.078

0.020

0.039

0.118

1.0

10996

9294

2011

0.079

0.020

0.039

0.119

1.0

12104

8737

2010

0.064

0.023

0.018

0.110

1.0

12782

8831

2009

0.064

0.024

0.017

0.111

1.0

12111

8978

2008

0.054

0.025

0.006

0.103

1.0

12808

8695

2007

0.067

0.024

0.020

0.114

1.0

10230

8570

2006

0.071

0.024

0.024

0.118

1.0

11556

9107

2005

0.096

0.025

0.047

0.145

1.0

15613

9054

2004

0.060

0.025

0.011

0.108

1.0

10952

9517

2003

0.027

0.025

-0.022

0.076

1.0

11297

9208

2002

0.069

0.025

0.021

0.118

1.0

12773

8684

age

2018

0.115

0.009

0.098

0.132

1.0

11227

9635

2017

0.106

0.009

0.090

0.123

1.0

11325

8997

2016

0.091

0.009

0.075

0.108

1.0

12091

8374

2015

0.082

0.009

0.064

0.099

1.0

10567

8693

2014

0.058

0.009

0.040

0.076

1.0

10989

8467

2013

0.056

0.009

0.038

0.074

1.0

12008

9546

2012

0.049

0.009

0.032

0.067

1.0

11331

9625

2011

0.050

0.009

0.032

0.068

1.0

13077

9763

2010

0.027

0.010

0.006

0.047

1.0

10760

8808

2009

0.047

0.011

0.026

0.068

1.0

10922

8987

2008

0.041

0.011

0.021

0.062

1.0

12210

9086

2007

0.048

0.011

0.028

0.068

1.0

12197

10017

2006

0.054

0.010

0.033

0.074

1.0

11566

9238

2005

0.059

0.011

0.038

0.080

1.0

14325

9516

2004

0.066

0.011

0.045

0.087

1.0

11391

9310

2003

0.043

0.011

0.022

0.064

1.0

12258

9349

2002

0.045

0.011

0.024

0.066

1.0

11233

8473

age_sq

2018

-0.001

0.008

-0.017

0.015

1.0

11109

8882

2017

0.010

0.008

-0.006

0.026

1.0

10722

8526

2016

0.010

0.008

-0.006

0.026

1.0

10926

8888

2015

0.002

0.008

-0.014

0.018

1.0

10702

8938

2014

0.018

0.008

0.002

0.034

1.0

10944

8950

2013

0.026

0.008

0.009

0.042

1.0

11501

9677

2012

0.014

0.008

-0.003

0.030

1.0

11191

8770

2011

0.025

0.008

0.009

0.041

1.0

12111

9170

2010

0.011

0.009

-0.007

0.029

1.0

11752

9509

2009

0.016

0.009

-0.003

0.034

1.0

11600

9348

2008

0.012

0.010

-0.008

0.030

1.0

11560

9064

2007

-0.002

0.010

-0.021

0.017

1.0

10630

8049

2006

-0.000

0.009

-0.018

0.018

1.0

11386

8843

2005

0.008

0.009

-0.010

0.026

1.0

14429

8527

2004

0.009

0.009

-0.009

0.028

1.0

11468

9210

2003

0.007

0.009

-0.011

0.025

1.0

11813

8675

2002

-0.009

0.009

-0.026

0.010

1.0

11330

9643

male

2018

0.171

0.016

0.138

0.203

1.0

12081

8698

2017

0.170

0.016

0.138

0.202

1.0

11135

7889

2016

0.174

0.016

0.142

0.207

1.0

11233

8879

2015

0.167

0.017

0.134

0.200

1.0

11220

8949

2014

0.138

0.017

0.104

0.170

1.0

10685

9161

2013

0.169

0.017

0.136

0.202

1.0

11261

8336

2012

0.177

0.017

0.143

0.209

1.0

9968

8683

2011

0.148

0.017

0.115

0.181

1.0

10976

8591

2010

0.188

0.019

0.151

0.225

1.0

13088

9238

2009

0.183

0.020

0.145

0.221

1.0

11448

8924

2008

0.155

0.020

0.116

0.194

1.0

12673

9016

2007

0.164

0.020

0.125

0.202

1.0

10811

8779

2006

0.146

0.019

0.108

0.184

1.0

12257

8727

2005

0.145

0.019

0.108

0.183

1.0

16872

9600

2004

0.168

0.019

0.130

0.206

1.0

12085

9283

2003

0.144

0.019

0.107

0.182

1.0

13152

9230

2002

0.153

0.019

0.116

0.191

1.0

13412

9750

sigma

2018

0.979

0.006

0.968

0.991

1.0

14442

9369

2017

0.982

0.006

0.971

0.993

1.0

13014

8298

2016

0.983

0.006

0.972

0.995

1.0

14319

8855

2015

0.984

0.006

0.972

0.995

1.0

15810

8843

2014

0.987

0.006

0.975

0.999

1.0

12493

8776

2013

0.986

0.006

0.974

0.998

1.0

12853

9242

2012

0.984

0.006

0.972

0.996

1.0

14535

9003

2011

0.985

0.006

0.974

0.997

1.0

14082

9203

2010

0.987

0.007

0.974

1.001

1.0

15396

8926

2009

0.985

0.007

0.972

0.999

1.0

15378

9419

2008

0.987

0.007

0.973

1.001

1.0

14429

8890

2007

0.989

0.007

0.976

1.003

1.0

13405

9885

2006

0.985

0.007

0.972

0.998

1.0

13470

9216

2005

0.986

0.007

0.972

1.000

1.0

18106

9150

2004

0.983

0.007

0.970

0.997

1.0

13797

8844

2003

0.987

0.007

0.974

1.000

1.0

15662

8452

2002

0.990

0.007

0.977

1.004

1.0

15600

9265



Additional non-linear fits

We tested the relationship between wealth and each wellbeing variable (happiness and satisfaction) using cubic B-spline models. A cubic B-spline was the most complex model (more degrees of freedom), and included here because it has been recently used to describe the maximum point at which wellbeing no longer increases with wealth (i.e., “satiety”, Jebb et al., 2018). Following Jebb et al (2018), we restricted the cubic B-spline model to n = 4, 5 and 6 knots and display wealth on a log scale.


Figure S5. Cubic spline of household wealth on satisfaction and happiness


The cubic B-spline models failed to reveal a complete satiety point (horizontal inflection) in satisfaction before the highest decile in any year. Also note that despite using a log scale, we do not observe a clear, regular logarithmic function with either wellbeing measure. Other researchers have argued that wealth represents a quantitative dimension subject to Weber’s Law of perception (Kahneman and Deaton, 2010). Under this view, similar proportional changes in income or wealth produce similar evaluations of satisfaction or happiness, rather than the absolute change. That is, a $100 increase in wealth will produce a greater impact on someone earning a minimum wage than someone earning many orders of magnitude of that amount. However while it is true that wealth clearly represents a quantitative dimension, the effects of wealth observed here represent cross-sectional differences in the population rather than changes experienced by an individual over time. It is not clear the extent to which Weber’s Law applies to cross-sectional or between-subject differences in quantitative dimensions such as wealth.



Figure S6. Prior predictive plot

(Not included)




Figure S7. Marginal effect of wealth on satisfaction by year (95% CI)

(Not included)



References

Jebb, A.T., Tay, L., Diener, E., Oishi, S., 2018. Happiness, income satiation and turning points around the world. Nature Human Behaviour 2, 33–38.

Kahneman, D., Deaton, A., 2010. High income improves evaluation of life but not emotional well-being. Proceedings of the national academy of sciences 107, 16489–16493.